New Delhi, Aug 28 (IANS) A man named Vinay was shot dead in Prasad Nagar of central Delhi on Tuesday night allegedly by his friend Akash as the deceased was not repaying the Rs 15,000 loan, the police said on Wednesday.

"We got a PCR call regarding a firing. When the police team reached the spot, it came to know the victim had been taken to a hospital. Doctors declared him brought dead," said a senior police officer.

During investigation, we found both friends were into garment business and were talking outside Vinay's house in Karol Bagh.

"Vinay had borrowed Rs 15,000 from Akash around one and a half month ago. He was unable to return the money. On Tuesday night, Akash again asked for money, but Vinay refused to pay. That led to a scuffle," said a senior police officer.

During the dust-up, Akash took out his pistol and fired at Vinay, and fled the spot.

"We have arrested the accused. Akash has no previous criminal record," the officer said.